The Pakistan Stock Exchange gave a warm response to the sharp drop in Pakistan Investment Bonds (PIB) cut-off yields, as participants subside concerns over the economic outlook. The index touched the highest point of 32,235 during the day and closed at 32,184-level with an accumulated gain of 628 points. Index successfully closed above its 50 days moving average, giving it a clear bullish signal. Market participation for 100 indexes clocked at 110.million shares and all shares by 136 million shares. Major contribution to total market volume came from LOTCHEM, TRG, PIBTL, KEL, MLCF, PAEL, HUBC, OGDC, OGDC, TRG and PEL. Lotte Chemical Pakistan Limited (LOTCHEM -0.68pc), Pakistan International Bulk Terminal Limited (PIBTL +10.38pc) and TRG Pakistan Limited (TRG +6.52pc) remained the volume leaders of the day. The scripts had exchanged 15.51 million shares, 7.99 million shares and 7.78 million shares respectively. On the economic front, Foreign Direct Investment (FDI) into the country declined 58pc to $156.7 million in July-August period (the first two months of FY20) as compared to $376.9 million in the same period last year. Moreover, FDI shrank to $83.36 million in August 2019 as compared to $197.95 million in August 2018. Gaining 679.82 points, the KSE-100 index marked its intraday high of 32,235.29. It closed higher by 628.56 points at 32,184.03. The KMI-30 Index gathered 1,307.24 points to end at 51,114.11, while the KSE All Share Index accumulated 306.21 points, closing the day at 23,429.34. Out of the total traded shares, 217 advanced and 82 declined. Kohinoor Energy Limited (KOHE +2.55pc) declared its financial results for FY19. The company announced a final cash dividend of Rs2 per share. Sales declined by 9pc YoY, while earnings per share depreciated from Rs4.31 in FY18 to Rs3.25 in FY19. At-Tahur Limited (PREMA +4.43pc) also announced its financial performance for FY19. The company declared a final cash dividend of Rs0.37 along with bonus shares of 10pc. Sales increased by 26pc YoY, while EPS appreciated from Rs1.62 in FY18 to Rs1.86 in FY19. Balochistan Wheels Limited (BWHL +4.98pc) posted an EPS of Rs5.36 for FY19 (Rs6.58 in FY18) along with a final cash dividend of Rs2; while Berger Paints Pakistan Limited (BERG 0.00pc) announced an EPS of Rs4.93 (Rs4.99 in FY18) along with a final cash dividend of Rs1 per share. Meanwhile International Monetary Fund’s (IMF) Middle East and Central Asia Director Jihad Azour has expressed satisfaction over the three-month performance of Pakistan.The IMF director praised the performance of FBR, saying that revenue growth, especially on the domestic front, was very impressive. “It is a good sign to have 30pc increase in tax revenue.”